CivicPlus® Announces Growth-Oriented Partnership with Minority Investor BV Investment Partners
CivicPlus has announced a strategic minority investment partnership with BV Investment Partners, a middle-market private equity firm focused on the business services, software, and IT services sectors.
MANHATTAN, Kan., May 13, 2019 /PRNewswire-PRWeb/ -- CivicPlus, the integrated technology platform for local government, has announced a strategic minority investment partnership with BV Investment Partners ("BV"), a middle-market private equity firm focused on the business services, software, and IT services sectors. The minority investment is being made in partnership with Ward Morgan, founder of CivicPlus and continual majority owner, and with the existing CivicPlus management team. BV is a private equity firm based in Boston, Massachusetts that has been in business since the early 1980s. BV has invested in a portfolio of relevant companies and will bring growth capital and strategic business development insights to CivicPlus.
With over 20 years of success serving the needs of local governments and a commitment to an aggressive product development roadmap focused on developing innovative solutions exclusive to the public sector, the leadership at CivicPlus determined the timing was ideal for forming a strategic partnership with a minority investor that can help take CivicPlus to the next level of growth.
Brian Rempe, CivicPlus Chief Executive Officer, said, "We went through a careful vetting process to find the right partner who can help us achieve our ambitious goals in the years ahead. In BV, we found a like-minded partner that appreciates our market, our unique position within it, our culture and employees, and the extraordinary opportunity that lies ahead in helping make local government work better. I'm extremely proud of all that we have accomplished to date, and I'm confident that the partnership with BV will put us in an even stronger position to offer even greater value to our clients and their citizens."
Justin Harrison, managing partner of BV Investment Partners, said, "We have had a running investment thesis within GovTech, and CivicPlus stood out to us very early on as a clear leader. Ward, Brian, and their team have built a great company, and we are honored and excited to partner with them for this next phase of growth at CivicPlus. This investment aligns well with our broader constituent engagement, software and technology services practices, and with our philosophy of partnering with great management teams to help accelerate growth."
"We have accomplished monumental achievements over the past two decades," said Ward Morgan, founder and majority owner of CivicPlus, "but we know that we are still scratching the surface of what we can accomplish in the years ahead. We are delighted to have found in BV a firm that shares our excitement and vision for CivicPlus' future and look forward to working closely with them to make that vision a reality."
About CivicPlus
CivicPlus is the integrated technology platform for local government, working with over 3,500 local governments including municipalities, counties, and municipal departments. CivicPlus has been selected by Inc. Magazine as "One of the Fastest Growing Privately Held Companies in the U.S." since 2011. For more information, visit http://www.CivicPlus.com.
Contact:
Mark Friesen
Director of Marketing
(785) 323-4751
friesen(at)civicplus(dot)com
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $3.4 billion, actively targeting investments in the business services, software, and IT services industries. For more information, please visit bvlp.com.
Contact:
Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
chris(at)tofallipr(dot)com
SOURCE CivicPlus
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